If you travel a lot, I mean a lot you may be able to greatly benefit from a credit card that offers airline points.  There are many offers and many pitfalls so any decision you make must be well researched.  There are so many different plans that it is almost impossible to compare two different plans.  The best way to research this is to make a wish list before you start.  Once your wish list is complete start your investigation.  Look for cards and offers that meet as many of your needs as possible.

There are a few things to keep in mind before you start your search.  Unless you travel a great deal then most plans will not be beneficial to you.  Usually, points don’t kick in until you have a minimum amount of miles traveled.  Find the credit card plan that has the lowest minimum miles traveled.  Another thing to keep in mind is that if you are expecting great rewards and you have less than great credit you are not going to have much luck.  A simple rule to follow is that the better your credit score, the better your deal.
Another thing to consider is whether you can pay your balance in full every month.  If you can’t, then you will end up losing money instead of making money.  The interest rates on most travel reward cards is relatively high, which means that any savings you are collecting are offset by the finance charges you end up paying.  It’s pretty silly to save $100 a year if you are spending $1000 in interest charges.

Beware when you are comparing different offers of the fine print.  The credit card companies have seemingly a million different ways to hide the pitfalls that are present.  Remember that an advertisement that says “no annual fees” does not mean there are no fees at all.  Some companies charge convenience or handling fees to redeem your points.  Also, an offer that says there are no annual fees is usually only for the first year.  After the first year, some companies kick in an annual fee of up to $100 the following years.  Again this can be a deal breaker because you are spending money to save money.

Another thing to be aware of is that with many credit card offers there is an expiration date on your miles earned.  Some of these points expire after only 2 years which is not a lot of time if you are saving up for a big trip.  If you are not aware of the expiration clause in your agreement you may be in for a big disappointment when it becomes time redeem your miles.

As is true with most anything in life it is important to be cautious and wise when making big decisions.  However, if you follow the rules, do your research, and read the fine print, you should be able to benefit from these special travel offers. It really is a great feeling to beat the card companies at their own game.